The Chicago Bulls haven’t had a lot of success on the court over the last year, but off the court the team is still on firm financial footing, according to a new valuation of NBA franchises.
The math, done by Forbes Magazine, reveals that the Bulls are currently the fourth-most valuable franchise in the NBA. According to Forbes, the Bulls are worth $2.5 billion, a nine-percent increase over last season’s total. The magazine says that the Bulls made a profit of $45.5 million last season, and that the team raked in $232 million in total revenue.
Unfortunately for Jerry Reinsdorf, that wasn’t enough to get his team to the top of the list. That honor belongs to the lowly New York Knicks, who have held onto the top spot despite being one of the worst teams in the league in recent years. They are currently worth $3.3 billion, a 10 percent increase over last season.
The Los Angeles Lakers are in second place at $3 billion, the Golden State Warriors check into third place with a worth of $2.6 billion (a staggering 37 percent increase over last year), and the Boston Celtics round out the top five with a valuation of $2.2 billion.
Even with the increase in value, the Bulls still aren’t the most valuable team in Chicago. That honor still belongs to the Bears, who as of Forbes’ last valuation of NFL teams checked in with a $2.7 billion value.